Auto bailouts worth every single penny

8:27 PM,
Dec. 21, 2013

General Motors world headquarters is shown in Detroit.

Written by

The (Muncie, Ind.) Star-Press

About those federal bailouts of General Motors and Chrysler - they worked.

That's the rightful conclusion by an Ann Arbor, Mich., think tank, the Center for Automotive Research, in a report issued last week. It comes on the heels of an announcement that the Treasury Department will sell its remaining shares of GM stock at the end of the year, allowing GM to shed the "Government Motors" moniker.

The final loss for taxpayers is still significant; the bailouts of 2008 and 2009 will result in a loss of $1.9 billion on Chrysler and $11.8 billion on GM for a total of $13.7 billion. That's sure to reignite ...